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The seasonally adjusted Absa Purchasing Managers Index (PMI) continues in a downward trend

Absa Group Ltd, one of the largest diversified financial service providers in Africa, has concluded an agreement with the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, helping Absa expand financing across seven countries in Sub-Saharan Africa.

Absa announced the appointment of Aaron Daniel Mminele as Group Chief Executive (GCE) of Absa Group, effective from 15 January 2020.

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) ticked down to 47.7 index points in November from 48.1 in October. The decline was broad-based as four of the five subcomponents of the headline PMI nudged down when compared with the previous month. Despite the decline, the average level of the PMI in October and November is still slightly above that recorded in the third quarter.

Absa Corporate and Investment Banking (CIB) says there are good business opportunities in some markets in sub-Sahara Africa outside South Africa where the bank has appetite to increase its agricultural lending book. Roux Wildenboer, Absa CIB Sector Head (Agriculture) says potential exists in countries such as Kenya, Ghana, Mozambique, Tanzania and Zambia.

Absa looks to promote intra-regional trade and investment through a US$ 250 million trade finance deal

Absa looks to promote intra-regional trade and investment through a US$ 250 million trade finance deal

Absa Group Limited subsidiaries Barclays Bank of Uganda Limited and Barclays Bank Moçambique were renamed Absa Bank Uganda Limited and Absa Bank Moçambique, SA., respectively, today, signalling significant progress in the group’s continent-wide rebranding programme.

South Africa has for the third year running, claimed top position among 20 African countries ranked by the Absa Africa Financial Markets Index in terms of financial markets development.